U.S. equity futures are pointing to an in-line start to the week for Wall Street. The S&P 500 Index futures (/ES) are trading slightly higher despite weakness in markets around the world. The weakness stems from another data point out of China which suggested that the country's economy is slowing and added to investors' nervousness about emerging economies. The CBOE Volatility Index (VIX) is back above $18 but may slide if stocks remain in positive territory after the open. The S&P 500 Index (SPX) held $1775 but could test the major support level again in the near-term.
Soft Chinese PMI set a bearish tone in Asia which spilled over to global equities. Bonds are down slightly, however this comes after hefty gains over the past two weeks. The losses put the 10-year Treasury yield at 2.66%, the lowest since mid-November. It's a busy week ahead with key data and events, including a possible cut from the ECB, and all concluding with Friday's January employment report. The debt limit will also be reinstituted on February 7. As for today the calendar has the January ISM manufacturing index, the flash PMI, January vehicle sales, and December construction spending. Janet Yellen will be sworn in as Fed chair as Bernanke's term is up.
Stock Stories:
AT&T (T) –A price CUT?! – The communications giant announced a new pricing plan for people wanting a family-size bucket of data and unlimited talk and text. The company has been losing the battle for subscribers recently and is ramping up its advertising budget to combat the trend. The shares are down slightly on the news ahead of the opening bell.
Major Economic Reports:
Auto Sales
7:58 am CT – PMI Mfg. Index
9:00 am CT – ISM Mfg. Index
9:00 am CT – Construction Spending
Notable Earnings:
Before Market: GOLD, SYY
After Market: AGNC, APC, CFN, HIG, MDU, PFG, TTWO, YUM
Tuesday – 2/4: ADM, AFL, ARMH, BIDU, BSX, BP, BWLD, CLX, CME, EMR, ETN, GILD, IP, KORS, SIRI, TM, Z |
发表于 2014-2-3 09:38
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